As per the nodal agency’s released data, SECI (The Solar Energy Corporation of India) paid around ₹4.91 Billion to solar and wind developers for the power it purchased in May 2021. This amount is 94% of the total disbursed amount by the agency during the month.
The nodal agency’s total outlay amount for May 2021 was ₹5.23 billion, which included the power purchase cost from solar and wind power, subsidies, reimbursements to developers, and duties and tax reimbursements, among other expenses for May.
In April 2021, the nodal agency had paid almost an equal amount for the power procured from solar and wind generators.
The move by SECI to clear the outstanding bills of power producers has come as a major relief to the renewable power generator, who have been facing issues of unpaid bills by the State Distribution Companies (DISCOMs) for some time now. Due to the poor financial position, the state Distribution companies have failed to make the renewable developers’ payment for a long time & which was make renewable developers’ work very difficult.
Till April 2021, state distribution companies owed renewable energy developers ₹113.34 billion, which does not include the disputed amount in overdue payments in 200 pending invoices.
The payment was made by SECI in May 2021, in which SB Energy One, Wardha Solar (Maharashtra), and Clean Solar (Bhadla) were the major beneficiaries.
SECI issued the ₹27.86 million fund under the viability gap funding in May 2021.
The SECI released around ₹39.81 million (~$536,562) in subsidies for the rooftop program in which Fourth Partner Energy, Harsha Solar Abacus, and Sure Energy Systems were the main beneficiaries.
SECI also disbursed ₹80.92 million (~$1.1 million) payments to contractors and service providers. The nodal agency paid another ₹33 million (~$444,776) in transmission charges.
In the recent past, there have been many cases where SECI has been directed to pay solar developers for the additional cost that occurred due to the imposition of safeguard duty and GST. In one such case, SECI was directed by the Central Electricity Regulatory Commission to compensate Clean Solar Power (Bhadla), a subsidiary of Hero Solar Energy, for the additional expense incurred due to the imposition of safeguard duty under the ‘Change in Law’ clause.
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